Stellantis: Strategic Independence Instead of Merger Rumors

Stellantis, the French-Italian automotive giant, is currently emphasizing its determination to operate independently, thereby clearly dismissing recent rumors about a possible merger with the French competitor Renault. John Elkann, Chairman of Stellantis and significant shareholder through the Agnelli family's investment company, EXOR, stated to the AFP news agency that mergers or acquisitions are not the company's focus at present. Elkann highlighted that the company is increasingly concentrating on optimizing its business operations—from the main shareholders through the board to the management. "We at Stellantis view our current size as competitive and are not distracted by potential consolidation measures," he stated on the sidelines of the Paris Motor Show. This statement is reinforced by earlier remarks from Stellantis CEO Carlos Tavares, who recently dismissed the speculation about a merger with Renault as "pure speculation." Nevertheless, he does not entirely rule out the sale of less profitable brands from Stellantis' portfolio of 14 brands. Elkann also reiterated that the timing for consolidations is not currently appropriate: "We are neither ready to consolidate nor to deconstruct at this moment.